By Vlad Sandulescu

Until recently, Romanian companies could distribute dividends to shareholders only on an annual basis and on approval of their annual financial statements at the end of each financial year. This paradigm has changed and companies can now opt to distribute their dividends annually or quarterly.

The legal provisions allowing Romanian companies to distribute dividends on a quarterly basis came into force on 15 July 2018 and were introduced by Law 163/2018, which amended:

  • the Accounting Law 82/1991;
  • the Companies Law 31/1990; and
  • Law 1/2005 on the organisation and function of cooperative companies